Fintech, or Financial Technology, is an initiative carried out by tech companies to digitalise financial activities. It is heavily funded by investors (billions of dollars) and many big names swear upon it.

Tech companies are now developing tech products (softwares and applications) that allow users to perform all kinds of financial activities at the tap of their mobile screens.

Financial activities include:

  1. Lending
  2. Payments
  3. Investments
  4. Personal finance management
  5. Foreign Exchange
  6. Crowd funding
  7. Financial analytics

and many more.

This means that actions like:

  1. Calling or going to the bank/financial institution to apply for a loan or buy a share
  2. Keying in credit card numbers to make payment
  3. Opening several bank accounts and sorting them as savings, current or foreign
  4. Paying hefty amounts for analytical softwares

are becoming obsolete.

Take note: banks and financial institutions are not becoming obsolete, but traditional ways of performing financial activities.

Softwares and mobile apps are replacing professional services and physical sites. Now, all we have to do is download an app or create an online account, and we can get all the services we need. We can avert the hassles of taking a queue number, being put on hold, or going through mountain piles of paper work.

Featuring one Fintech company in Singapore:


Mission: to empower the Global Underbanked with F.A.S.T.™ Payments.
(Future & Forward | All & Any | Safe & Secure | Through & Transformative)

Vision: to become a Bold Sustainable Enterprise empowering 100 million people with $1 a day.

Numoni was founded in 2012 to enable cashless payment methods for unbankedpopulations.

It has 6 transaction platforms:

(1) Recharge platform

Nugen users can:

  • Add minutes to their prepaid mobile phone cards (recharge prepaid airtime)
  • Top up prepaid vouchers to shop on-line securely (recharge prepaid vouchers)
  • Reload electronically stored value voucher (recharge stored value wallets)

(2) Remit platform

Nugen users can:

  • Remit prepaid airtime, vouchers and stored value wallets for families overseas

(3) Repay platform

Nugen users can:

  • Repay monthly recurring bills such as utilities bills, automotive bills, monthly subscriptions fees and microloan repayment

(4) Release platform

  • Dispense local currencies from rebates, refunds and disbursement of donations

(5) Receive platform

  • Collect micro-savings and donations for any charity drives

(6) Retail platform

  • Purchase games credits, discount vouchers, issuance of entrance tickets

These transaction platforms make Numoni’s products worthwhile buying:


This is Numoni’s main product, an ATM-like terminal.

This simple self-service terminal enables micro remittances, micro payments and micro loans. And by micro, I mean amounts like US$1.


Basically a mobile app version of Nugen.


For buyers of NUGEN to monitor the terminals and ensure that they are functioning well.


A software application for Numoni’s dealers to organise their business and monitor their progress

Numoni was birthed from a desire to eradicate poverty, and that obviously involves a lot of finance. With technology, we are sure that Numoni’s mission will be achieved. All the best, Numoni!

To read about two more companies and some subject-matter expertise, read the full article here!

Peace out